I purchased my property approximately a year ago, since then I've made some changes and recently had a re-valuation done on the property. The valuer pointed out that almost half of the house was made of weatherside cladding which will bring the value down significantly and also said that it would make it difficult for banks to lend on this because this product is now banned due to its failure to withstand water.
Obviously, I did my due diligence prior to purchasing and had a building inspection done on this property. The building inspector pointed out issues like high moisture readings in the laundry, a leak in the dining room ceiling, moldy gib, etc but failed mention that the cladding had areas where it had already swelled and rotted from water damage.
Does anyone else have this problem? And if so, should I see a lawyer?
Obviously, I did my due diligence prior to purchasing and had a building inspection done on this property. The building inspector pointed out issues like high moisture readings in the laundry, a leak in the dining room ceiling, moldy gib, etc but failed mention that the cladding had areas where it had already swelled and rotted from water damage.
Does anyone else have this problem? And if so, should I see a lawyer?
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